Krugman went on to add that the seeds for Ireland’s current economic demise were sown when Ireland moved in to the Euro zone, stating "the decisions that put you in this box have been made," and that the country can expect a drop in wages and prices as the government takes action to improve the economy

Krugman, an op-ed columnist for the New York Times who wrote a piece entitled “Erin go Broke” in April that stirred some controversy at the time, says that international markets have lost confidence in the Emerald Isle.